Ecofi Investissements SA Buys Shares of 55,000 Wolfspeed, Inc. (NYSE:WOLF)

Ecofi Investissements SA acquired a new position in Wolfspeed, Inc. (NYSE:WOLF) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 55,000 shares of the company’s stock, valued at approximately $1,251,000. Wolfspeed accounts for approximately 0.7% of Ecofi Investissements SA’s portfolio, making the stock its 24th largest holding.

A number of other institutional investors also recently bought and sold shares of the company. TFO Wealth Partners LLC increased its position in shares of Wolfspeed by 57,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 574 shares during the last quarter. Mather Group LLC. grew its holdings in Wolfspeed by 385.5% during the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares in the last quarter. Signaturefd LLC grew its stake in Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after acquiring an additional 1,544 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Wolfspeed by 64.8% in the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after purchasing an additional 691 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Wolfspeed in the second quarter worth $75,000.

Wolfspeed Trading Up 10.5 %

WOLF opened at $10.18 on Monday. The company has a quick ratio of 3.85, a current ratio of 4.51 and a debt-to-equity ratio of 6.99. The stock’s fifty day moving average is $12.21 and its two-hundred day moving average is $20.94. The company has a market capitalization of $1.28 billion, a P/E ratio of -1.58 and a beta of 1.52. Wolfspeed, Inc. has a 52 week low of $7.28 and a 52 week high of $47.43.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.03). Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. The firm had revenue of $200.70 million during the quarter, compared to the consensus estimate of $201.11 million. Analysts forecast that Wolfspeed, Inc. will post -3.84 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WOLF shares. New Street Research lowered Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Wednesday, August 7th. Morgan Stanley lowered their price target on Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Bank of America dropped their price objective on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, August 23rd. Canaccord Genuity Group lowered their target price on shares of Wolfspeed from $45.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen dropped their price target on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Wolfspeed currently has a consensus rating of “Hold” and an average target price of $24.53.

About Wolfspeed

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.